On Wednesday, the dollar lost ground to commodity currencies like the Australian dollar and the euro, which gained strength from a slew of data that suggested that European inflation may have reached its peak. Investors who have grown more confident about the possibility that China’s relaxation of strict COVID restrictions will give the world’s second-largest …
As Europe’s Inflation Slows, the Dollar Declines Read More »
Tuesday’s volatile trading saw oil prices edging lower as weak Chinese demand data, and a bleak economic outlook weighed. Brent crude futures had dropped 46 cents, or 0.54%, to $85.45 per barrel. At $79.88, U.S. WTI crude had fallen 38 cents or 0.47%. While Brent lost $1 in earlier trading, both contracts increased by more …
The primary topic of discussion was the Federal Reserve’s December meeting minutes, and the yen rose to a seven-month high on growing speculation that the Bank of Japan might abandon its ultra-accommodative monetary policy. On Wednesday, the Fed will release the minutes from its December meeting, and traders will look for indicators of the likely …
Exxon Mobil Corp. (XOM.N), the largest oil company in the United States, is suing the European Union to get it to repeal the bloc’s new windfall tax on oil companies. Exxon Mobil claims Brussels overstepped its legal bounds by enacting the tax. This year’s record profits for oil companies, which benefited from high energy prices, …
The Ruble Has Dropped to An 8-Month Low The Russian ruble fell to an 8-month low against the dollar, weighed down by fears that sanctions on Russian oil and gas would limit export revenues. The ruble fell 0.9% against the dollar to 72.83, its lowest level since April 27. It fell 0.7% against the euro …
The U.S. dollar was largely unchanged. Still, it gained against the Japanese yen after the Bank of Japan’s most recent minutes indicated that its accommodative monetary policy is likely to continue. The dollar, which measures the dollar’s value against a basket of 6 other currencies, traded largely unchanged at 103.870, up from the low point …
The dollar fell on Tuesday after China announced that it would scrap its COVID-19 quarantine rule for inbound travelers, a significant step toward reopening its borders that boosted risk-sensitive currencies such as the New Zealand and Australian dollars. According to the National Health Commission, China will no longer require inbound travelers to enter quarantine upon …
Treasury yields in the United States rose on Tuesday as markets reopened following Monday’s Christmas holiday, and investors awaited data that could provide new clues about the state of the American economy. The 10-year Treasury note yield had risen by about three basis points to around 3.7789%. Meanwhile, the 2-year Treasury yield rose by more …
With hopes of a fuel demand recovery stoked by China’s most recent relaxation of COVID-19 restrictions, oil reached a three-week high on Tuesday. Winter storm-related cuts to U.S. energy production also helped to support the price. According to the National Health Commission, China will stop requiring inbound travelers to be quarantined as of January 8. …
Alexander Novak told the official news agency TASS that Moscow is prepared to restart gas shipments to Europe through the Yamal-Europe Pipeline. When Poland decided to use the gas already in Germany rather than purchase it from Russia in December 2021, the Yamal-Europe Pipeline’s normal westward flow mostly reversed. Warsaw terminated its agreement with Russia …
Russia Is Prepared to Restart Gas Supplies to Europe Read More »
On Monday, the Russian ruble edged up against the dollar, gaining some ground after experiencing its biggest weekly decline since early July due to concerns about how sanctions on oil and gas would affect Russia’s export earnings. Following an oil embargo and price cap implementation, the ruble lost about 8% last week. It is currently …
Following two days of gains, the dollar fluctuated on Friday. It showed little change in morning trading in London as investors considered the outlook for interest rates in the wake of stronger-than-anticipated U.S. economic data on Thursday. The euro was slightly up compared to the dollar, rising by 0.1% to $1.061 after falling by less …
In response to price caps on its crude oil and refined products, Russia may reduce oil production by 5% to 7% in early 2023 and stop exports to nations that support them, Deputy Prime Minister Alexander Novak said on state television on Friday. Novak described the Russian response to the West’s price caps as a …
Oil Prices Jump for The Fourth Day in A Row On Thursday, oil prices rose for a fourth straight day and reached their highest level in two and a half weeks as U.S. crude, heating oil, and jet fuel supplies became more scarce as a wintry blast hit the country. Brent crude futures were trading …
On Thursday, the yen gained a little strength and moved closer to a four-month high against the dollar it had reached earlier this week after an unanticipated change to the Bank of Japan’s bond yield controls fueled bullish yen bets. A 0.3% increase brought the yen to 132.08 per dollar. It increased to a four-month …
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